Tag: Nigeria

Cadbury Nigeria names Oyeyimika Adeboye as new Managing Director, Ogaga Ologe as Finance Director

Cadbury Nigeria names Oyeyimika Adeboye as new Managing Director, Ogaga Ologe as Finance Director

BUSINESS
Cadbury Nigeria Plc on Tuesday announced the appointment of Mrs Oyeyimika Adeboye as the company’s new Managing Director effective 1st April 2019. Mrs Adeboye takes over from Mr Amir Shamsi, who will take on a new role within Mondelēz International, the parent company of Cadbury Nigeria. Mrs Adeboye would be the first woman Managing Director in Cadbury Nigeria history. Her appointment attests to the Company’s commitment to promoting gender equality, diversity and inclusion. Mrs Adeboye, a chartered accountant, joined the Board of Cadbury Nigeria as Finance and Strategy Director, West Africa region in November 2008. Prior to joining Cadbury Nigeria, Mrs Adeboye was the Director of Finance and Chief Financial Officer of Nigerian Bottling Company Plc. She previously worked for the erstwhile A

Cadbury Nigeria sustains growth momentum at full year

BUSINESS
Cadbury Nigeria Plc reported a net earnings growth of 174% in 2018. Profit skyrocketed to ₦823m from ₦300m in 2017. The leap in profit was helped by a 9% sales growth to ₦35.9 from ₦33bn, with its flagship Bournvita and 3-in-1 Hot Chocolate, which contributed 59% of Group sales recording 17.55% sales increase. Net profit also received a boost from cost management initiatives, with Selling & Distribution expenses dropping 10% and administrative expenses declining marginally by 1.46%. The company said that Intermediate Cocoa Products which includes cocoa powder, cocoa butter, cocoa liquor and cocoa cake, (contributing 14% of Group sales) grew by 9% in the period, helping lift sales. However, the confectionary products (Tom Tom, Buttermint, Clorets and Trident) which contributed 27% of Gr

FrieslandCampina WAMCO partners IFDC to increase milk production in Nigeria

BUSINESS
FrieslandCampina WAMCO has partnered with the International Fertilizer Development Center (IFDC), a science-based public organization, in a project that aims to boost milk production for pastoralist milk producers in Nigeria. Along with IFDC, the company said it will work together with pastoralist milk producers in Oyo State, to boost the quality and quantity of local milk and improve the livelihoods of farmers. The dairy partnership, which is known as the 2SCALE project will try to alleviate the contribution of women in the country’s dairy farming sector by specifically focusing on women and their needs. The dairy partnership which has 1,800 milk producers, of which 950 are women, will provide technical, entrepreneurial and leadership training. The project will also set up water points at

AB InBev reorganizes board; appoints new board chairman, others

BUSINESS
Anheuser-Busch InBev has announced the appointment of Martin Barrington as its new board chairman. Mr Barrington, a former chief executive officer of cigarette maker Altria Group, a major shareholder of AB InBev with 10.2% stake, has been on the company’s board since 2016. Barrington replaces Olivier Goudet, CEO and managing partner at Investment Company JAB Holdings, whose recent activities in the beverage and restaurant industries has created a conflict of interest for him. JAB Holdings, which is controlled by the Reimann family of Germany has been buying up assets including Caribou Coffee, Panera Bread and Pret A Manger. The appointment is subject to shareholder’s approval at the next meeting on April 24. Barrington retired from the Marlboro maker, Altria after six years as CEO. The cha

Coca-Cola and bottling partners to boost recycling of PET in East, Southern Africa with $38m investment

BUSINESS
Coca-Cola has announced new collection and recycling plans for PET plastic in Southern, East and Central Africa for the next three years. The company, in partnership with its bottling and industry partners in the region, will invest around US$38m to boost recycling industries and educate consumers about recycling. The General Manager of Coca-Cola East and Central Africa Franchise, Ahmed Rady, made this known in a statement on Monday. He said that the fund would help create awareness on plastic waste pollution in the same areas over the same period of time. The Coca-Cola Company is accelerating the collection and recycling of PET plastic bottles across Southern and East Africa to commemorate Global Recycling Day being marked on Monday. “This is part of a focused World Without Waste campaign
Coca-Cola partnership with LSETF gives hope to 300 women to start their own businesses

Coca-Cola partnership with LSETF gives hope to 300 women to start their own businesses

BUSINESS
As part of its effort to empower women, Coca Cola System Programme, in collaboration with Lagos State Empowerment Trust Fund (LSETF), recently gave hope to about 300 women drawn from different communities in the state to start up their own small businesses. The programme is part of the state’s women empowerment initiative, which is in line with Coca-Cola’s 5by20 Programme, the company’s global commitment to enable the economic empowerment of five million women entrepreneurs across its value chain by 2020. The 300 women, who are the first batch of the 1000 women targeted for the initiative, were provided with Trade Assets including coolers, tables, umbrellas and Coca-Cola beverage products, after completing their training modules on financial literacy and business skills. Speaking at the ha

East African Breweries launch Tusker Ale beer to capture Kenya’s premium beer market

BUSINESS
East African Breweries Limited (EABL) has launched a new premium beer called Tusker Premium Ale as it seeks to capture the premium beer market in Kenya. An Ale beer can be described as having a fruity taste compared to lager which has a crisp-clean taste. The new Ale was launched under the company’s flagship brand Tusker, joining other Tusker brands in EABL’s stable – Tusker Lager, Tusker Malt, Tusker Lite and Tusker Cider. The new brew has medium alcohol strength at 5% abv, has a golden colour and contains citrus, mangoes and orange flavours with slight pineapple. It also has woody notes (herbal, clove like). “The Tusker Premium Ale is brewed with specialty hops providing a richer mouth feel, colour and flavour,” said KBL master brewer Valentine Wambui. The beer is being sold in a stubby
Nigerian Breweries to power Ibadan Brewery with solar power, first of its kind in Africa

Nigerian Breweries to power Ibadan Brewery with solar power, first of its kind in Africa

BUSINESS
Nigerian Breweries Plc (NB) and CrossBoundary Energy are today announcing the signing of Heineken’s first solar project in Africa. CrossBoundary Energy will be installing and operating a 650 kW solar plant located at NB’s Ibadan Brewery, the solar energy plant will become operational in 2019. The landmark project is the first of its kind for Nigeria – a fully-financed solar Power Purchase Agreement for a major Nigerian business customer. CrossBoundary Energy will operate the rooftop facility on behalf of Nigerian Breweries as part of a 15-year solar services agreement. Under the agreement, NB will only pay for solar power produced, receiving a single monthly bill that incorporates all maintenance, monitoring, insurance and financing costs. The solar plant will supply 1GWh annually to the I

Nigerian Breweries releases statement on lawsuit filed against it by the Nigerian Copyright Commission

BUSINESS
Nigerian Breweries Plc on Monday released a statement on a pending legal case brought against it by the Nigerian Copyright Commission (NCC). The company stated that it was defending the action filed against it and its former Managing Director/Chief Executive Officer, Mr Johan A. Doyer, by the NCC. The case is pending at the Federal High Court in Abuja. According to the company, the case is not new as it was instituted in October, 2017 by one Mr Paul Allen Oche, who is laying claims to the copyright supposedly contained in a book he “wrote” and which book has, as part of its title the Amstel Malta trademark which is well known as one of the brands in the company’s portfolio. The claimant, Mr Oche has subsequently filed a personal action with respect to the same issue, claiming damages again

La Casera fetes with stakeholders

BUSINESS
The La Casera Company has expressed its gratitude to its customers across the country for their consistency and loyalty to the brand. This was communicated by the company to its stakeholders at an engagement forum it organised for them in Lagos recently. Speaking at the event, the Managing Director of The La Casera Company, Mr Chinedum Okereke, stated that the forum was necessary to celebrate and connect more with brand loyalists through their feedbacks. Customers who were present at the well-attended event stated their preference for the Apple variant of La Casera, which they said had more to offer at N100 than competing brands. Speaking further, Okereke said that The La Casera Apple brand was the only soft drink in Nigeria that contains five per cent of real apple juice, in addition to t...